New Update(24/3/2014)

 

1. The letter send to DDG(PG) by raising the points after issueing the notification on dated 3-3-2014,regarding option for combined service pension from retrospective date.

2. It is conveyed by Sh.A.K.Kaushik and Sh.Mange Ram ( belong to United Front) that the one time option of combined service pension is to be provided to the pro-rata pension optee case is strongly raised to Sh.Kapil Sibal and assured it will also be resolved on emergent level.

3. Proposal by PRPA to resolve the problem with minimum loss to the employee in case of change of option as follow:-

-Only 4% rate of interest (reduced to gpf interest)to be charged on the recieved pro-rata amount (since actual recieved)because the employee already paid the income-tax on the recieved pro-rata amount.

-the 50% recovery of pension to be done from commutted amount and 50% recovery to be done in 36 installment if service remaining less than 4 years.

-the 50% recovery of pension to be done from commutted amount and 50% recovery to be done in 48 installment if service remaining less than 5 years.

-the 50% recovery of pension to be done from commutted amount and 50% recovery to be done in 60 installment if service remaining more than 5 years.

-the whole recovery of pension to be done from commutted amount ,in case of service less than 3 years or already retired employee.

-the amount of gratuity recieved with reduced rate of interest due to charged income tax, to be deducted from the final gratuity computed at the time of retirement.

-the outstanding of retired employee may be adjusted form the due’s.

“If there is will than there is way”. 

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